Groww share price: Billionbrains Garage Ventures, the parent company of stock broking platform Groww, is caught in a bullish uptrend with the rally showing no signs of slowing down. Trending higher for the fifth day in a row since listing on the bourses last week, Groww stock jumped another 11% today to ₹193.91.
If the gains in Groww’s stock continue, it could soon emerge as a multibagger stock with IPO investors already raking in nearly 94% return on their investment. Groww shares had ended their listing day trade with nearly 31% gains over the IPO price last Wednesday.
Groww’s m-cap milestone
In Monday’s session on November 17, Groww surged 20%, driving its market capitalisation above the ₹1 lakh crore mark. This milestone places Groww among a select group of around 100 companies — out of nearly 5,000 listed on Dalal Street — to achieve such a valuation.
Groww is now more valuable than the combined market caps of eight stock broking firms — Angel One, Nuvama Wealth, JM Financial, Choice International, IIFL Capital, 5Paisa, Anand Rathi, and DAM Capital.
The rally also minted a new billionaire as its CEO, Lalit Keshre’s holding, swelled past $1 billion.
Is Groww rally sustainable?
However, analysts now believe that Groww’s rally might be running ahead of fundamentals.
Its implied P/E multiple at IPO was estimated around 33–37x, which was elevated compared to established players like Motilal Oswal and Angel One, most of whom trade at notably lower multiples.
Currently, Groww is trading at a PE of 61x, whereas its peers Motilal Oswal (29x), Angel One (33x), Nuvama Wealth (26x), and IIFL Wealth, which is far below Groww’s current valuation, said Nitin Jain, Sr. Research Analyst at Bonanza.
“Groww has certainly run well ahead of most listed capital market players on valuation, justified mainly on the promise of digital scale and future product expansion. For value-oriented investors, current levels might demand caution, while growth-focused believers could still justify the premium if long-term projections are met,” he added.
Groww’s breakout listing reflects strong faith in India’s retail investing boom, said Yash Chauhan, Research Analyst at INVAsset PMS. The company now commands about 26% of active NSE clients and is transitioning from pure broking towards wealth, commodities and margin-trading services, he added.
“Even so, current valuations already embed a lot of future growth, and the business must deliver on diversification and scale. For long-term investors, Groww remains a compelling structural play—but new entrants need to evaluate whether further upside comes from execution rather than sentiment alone,” said Chauhan.
Groww is set to declare its second-quarter earnings later this week on Friday, November 21, which could give an insight into the broking firm’s fundamentals.
Founded in 2016, Groww emerged as India’s largest stockbroker, with over 12.6 million active clients and a market share of over 26 per cent as of June 2025.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
